This Week's Bay Area Deal Sheet
Unlearn, an AI company, will relocate to a new 17K SF office space at 303 Second St. in San Francisco this quarter.
JLL secured the lease, representing both Unlearn and landlord Kilroy Realty in the deal.
Unlearn, which specializes in creating digital twins for medical research, is growing, and its projected expansion necessitated the move from a 3.5K SF space elsewhere in the city.
303 Second St., on the edge of the SoMa neighborhood, offers amenities like an outdoor dog run as well as an outdoor plaza with restaurant and retail options. Unlearn’s build out of the space will include both open gathering spaces and collaboration nooks.
The Class-A property is in the middle of the company’s analysis of its employees’ ZIP codes, making it ideal for commuting.
Unlearn recently announced $50M in Series C funding.
PEOPLE
Matthew Nebel joined Kidder Mathews as senior vice president in the San Francisco office, where he will specialize in office tenant advisory with a focus in the East Bay-Oakland metro area. Previously, Nebel was senior vice president at Colliers International in Oakland.
FINANCING
Berkadia secured $44.5M in refinancing of the Fountains of Fair Oaks, a 270-unit multifamily property near Sacramento International Airport. Berkadia secured a five-year interest-only loan through Freddie Mac.
THIS AND THAT
Presidio Bay, a San Francisco developer, is seeking applications for its summer 2024 Real Estate Development Scholarship Program, which aims to empower young adults from underrepresented communities with educational and career opportunities in commercial real estate. The application deadline is Feb. 19. Last year the program awarded more than $112K in scholarships.
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State Sen. Scott Wiener, a San Francisco Democrat, introduced legislation that would provide regulatory and tax relief to conversions and remodels of buildings in downtown San Francisco for a decade, providing a temporary exemption to the California Environmental Quality Act.
